Increasing Returns versus Externalities: Pro-Cyclical Productivity in US and Japan
AbstractThis paper investigates the phenomenon of pro-cyclical productivity and attempts to discriminate among several competing explanations given in the literature. The study focuses on the United States and Japan. The different industrial relations in these two economics cast a sharper light on the pro-cyclical productivity debate. Although the labour boarding hypothesis has proved to be quite robust, my results suggest that the role of external economies should not be underestimated, especially in the case of Japan.
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Bibliographic InfoPaper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 83.
Date of creation: Oct 1996
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- Julia Darby & Robert A Hart & Michaela Vecchi, 1998. "Labour Force Participation and the Business Cycle: A Comparative Analysis of Europe, Japan and the United States," Working Papers 9802, Business School - Economics, University of Glasgow.
- Ana Rincon & Michela VECCHI & Francesco VENTURINI, 2012. "ICT spillovers, absorptive capacity and productivity performance," Quaderni del Dipartimento di Economia, Finanza e Statistica 103/2012, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
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